Why Peninsula ordered a large LNG bunkering vessel

Peninsula has commissioned a large LNG bunkering vessel as part of its strategic response to the evolving needs of its customers. The new vessel, with a capacity of 18,000 m³, reflects the increasing size of LNG tanks on dual-fuel vessels, particularly in the container shipping segment.

Speaking at the LNG Shipping & Terminals Conference in November 2024, Peninsula head of alternative fuels Nacho de Miguel explained the rationale behind the order.

“The large offtakers in this segment, which are the container lines, have larger tanks for their self-consumption,” he said.

Peninsula launched its LNG bunkering operations four years ago, taking delivery of its first LNG bunker vessel approximately a year ago. Since then, the company has been actively supplying LNG in the Strait of Gibraltar.

“The demand is gradually increasing, and we are quite satisfied with the performance of the vessel, the team, and how we are interacting with our customers,” Mr de Miguel noted.

The latest vessel order marks a progression in Peninsula’s alternative fuel strategy. 

The company has also expanded its portfolio beyond conventional fuels to include biofuels and plans to introduce bioLNG, green methanol and ammonia in the future.

“We are working with other stakeholders in the energy business to ensure readiness for the steady production and demand of future fuels,” Mr de Miguel added.

Peninsula’s investment in a large bunkering vessel highlights the growing shift towards LNG and alternative fuels as the shipping industry adapts to meet decarbonisation goals and customer requirements.